32409 (Panama City)
Housing Market
Median sale price $339,900, down 5.5% year over year, with homes going under contract in about 70 days.
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Housing Market Analyst
Prices are down 5.5% versus the prior year, but sellers are still collecting 95.2% of asking. Taken together, the data points to a broadly balanced market where preparation decides who wins.
Who has leverage right now
Leverage scores are derived from the Momentum Score (supply, demand, speed, pricing power, and trend). Right now the data favors neither side decisively.
- Mortgage sensitivity — at 4.9× income, this market is moderately sensitive to rate moves; rate relief tends to show up in demand here quickly.
Derived from current 32409 data, not a prediction or guarantee. Markets move; talk to an agent before acting on any single reading.
Where 32409 is hot — and where it isn't
Each dot is a community (14 shown, sized by sales volume rank). Click any dot to open its full neighborhood guide.
The read on 32409 (Panama City)
The median sale price across 32409 currently stands at $339,900, down 5.5% from a year ago. The typical home goes under contract in about 70 days. Sellers are capturing 95.2% of their original asking price on average.
Zillow's home value index for Bay County stands at $346,094. About 26% of listings county-wide have taken a price cut — a useful gauge of seller flexibility.
Weighing supply, demand, speed, pricing power, and trend together, the Momentum Score for 32409 is 49 of 100 — buyer's opportunity territory. This page recalculates every day as new MLS data lands, so the numbers above reflect the market as of August 6, 2026.
32409 since 2012 — and where it’s heading
A median home here sold for $204,344 in 2012 and $418,160 over the last recorded year — 105% appreciation across 14 years of recorded sales.
Median sale price · 2012–2026 (1,833 recorded sales)
Days on market by year
Home value trend · Bay County (Zillow ZHVI)
For-sale inventory · county (Zillow)
What’s driving 32409
Top inbound states: GA, AL, TX, AZ. Movers arriving report ~$74,894 average income. Source: IRS SOI county-to-county migration, 2022-2023
1,264 Citizens policies in force in Bay County — the state-backed insurer of last resort. Budget insurance into any Bay purchase before you fall in love with a house. Source: Citizens Property Insurance, Detail by County, April 2026
1,685 single-family · 387 multi-family · 11.4 per 1,000 residents. Future supply pressure starts here. Source: U.S. Census Bureau, Building Permits Survey, 2025
The calls we’re making from today’s data
The sharpest 1-yr median swing among tracked communities. Thin samples can exaggerate swings — verify with a comp analysis before treating it as trend.
Both sides have a case: buyers should negotiate on days-on-market, sellers should lean on the under-contract rate. Preparation, not the market, decides who wins a balanced tape.
Generated from today’s data by Momentum’s analysis engine and reviewed on a rolling basis by our broker team.
Nearby ZIP codes in Bay
| Market | Median | Active | Score | |
|---|---|---|---|---|
| 32409 ← this page | $340K | — | 49 | |
| 32304 | $222K | 17 | 63 | Open → |
Neighborhoods on the move
| Fanning BayouPanama City | $494K | ▲ 14% |
| Hodges Bayou PlantationPanama City | $340K | ▲ 2% |
| Cedar Creek At Deerpoint LakePanama City | $553K | ▲ -51% |
| Cedar Creek At Deerpoint LakePanama City | $553K | ▼ 51% |
| Hodges Bayou PlantationPanama City | $340K | ▼ 2% |
| Fanning BayouPanama City | $494K | ▼ 14% |
| Hodges Bayou PlantationPanama City | $340K | 62 days |
| Cedar Creek At Deerpoint LakePanama City | $553K | 80 days |
| Fanning BayouPanama City | $494K | 104 days |
Cities in this ZIP
Most active communities
Put this data to work
The questions people actually ask
Should I buy a house in 32409 right now?
The data says conditions currently favor neither side decisively in 32409 — the Momentum Score reads 49/100. For buyers that means preparation over hesitation: well-priced homes still move fast, but there is more room to negotiate than a year ago. The right timing always depends on your rate, your equity, and how long you plan to stay — not just the market.
Is 32409 becoming more affordable?
Yes, modestly — the median sale price in 32409 is $339,900, down 5.5% versus the prior year, while sellers still capture 95.2% of asking price. Softening prices plus normal-length marketing times mean affordability is improving at the margin, though financing costs matter more than list prices for most monthly payments.
Where are prices falling fastest in 32409?
Among tracked communities with enough sales to measure, the sharpest 1-year median declines are Cedar Creek At Deerpoint Lake (-51%); Hodges Bayou Plantation (2%); Fanning Bayou (14%). Note that community-level medians move on small sale counts — a few high- or low-end closings can swing them — so treat these as leads for a comp analysis, not verdicts.
Which 32409 neighborhoods are most competitive?
Measured by speed of sale, the fastest-moving tracked communities right now are Hodges Bayou Plantation (62 days); Cedar Creek At Deerpoint Lake (80 days); Fanning Bayou (104 days) — homes there go under contract well ahead of the market-wide pace of 70 days.
32409 (Panama City) housing market FAQ
What is the median home price in 32409?
The median sale price in 32409 is currently $339,900, down 5.5% from a year ago, based on MLS sales data updated August 6, 2026.
Is 32409 a buyer's or seller's market right now?
The data currently is roughly balanced. 32409 scores 49 of 100 on the Momentum Score. Conditions change; this page updates daily.
How long do homes take to sell in 32409?
The typical home in 32409 goes under contract in about 70 days, per current MLS data.
Are home prices in 32409 rising or falling?
Median sale prices are down 5.5% year over year based on a rolling comparison of MLS sales.
Momentum agents use this intelligence every day to price listings and write winning offers across 32409 (Panama City). Talk through what the numbers mean for your move.
Every number on this page is computed directly from licensed Florida MLS feeds, recorded public sales, Zillow Research, and U.S. Census data — nothing is manually adjusted or estimated by hand. Medians use recorded closed sales; supply figures use live listing counts refreshed twice daily; the Momentum Score methodology is summarized .
Analyst oversight: Jon Brooks — Co-Founder, Momentum Realty · CEO, Momentum Research · Housing Market Analyst · methodology reviewed quarterly · Last data refresh: August 6, 2026 at 7:18 PM ET
Statistics on this page are computed automatically from licensed MLS feeds and public data sources (Zillow Research, U.S. Census Bureau) and summarized without manual review. Figures are estimates based on recent recorded activity, are deemed reliable but not guaranteed, and should be verified with a licensed agent before making decisions. This page does not constitute an appraisal or an automated valuation of any specific property. Momentum Realty is licensed in Florida and Georgia. Equal Housing Opportunity.